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EG 13.6 1Petitioning for compulsory winding up on just and equitable grounds

EG 13.6.101/03/2016

1The FCA has power under section 367(3)(b) of the Act to petition the court for the compulsory winding up of a company or partnership, on the ground that it is just and equitable for the body to be wound up, regardless of whether or not the body is able to pay its debts. In some instances the FCA may need to consider whether to petition on this ground alone or in addition to the ground of insolvency.

EG 13.6.201/03/2016

1When deciding whether to petition on this ground the FCA will consider all relevant facts including:

in the case of an unauthorised company or partnership carrying on a regulated activity as part of a larger enterprise, the scale and importance of the unauthorised regulated activity and the extent to which the enterprise is likely to survive the restraint and remedying of that activity by the use of other powers available to the FCA having regard to any continuing risk to consumers;

(6)

whether there is reason to believe that an injunction to restrain the carrying on of an unauthorised regulated activity would be ineffective;